There is no deductible on Section II of your Renters Insurance Policy; Section II applies to Personal Liability and Medical Payments to Others, both of which do not require a deductible.
If you are purchasing Renters Insurance primarily to provide Personal Liability coverage required by your landlord or simply for the personal protection of your assets from a liability exposure, you will be best served by purchasing a policy with the maximum available deductible.
The lowest renters insurance policy premium will be generated by selecting the maximum deductible amount on the policy; however, the deductible only applies to the Personal Contents (physical loss). It is important to review your policy as there are variations from State to State; however, Renters Insurance is referred to as a Homeowners Form HO-4 or Renters Form.
In most geographic areas, Stillwater Insurance generates the lowest premium for this type of coverage and the policy is available online. You may obtain a Free Renters Insurance Quote and Buy your Renters Insurance Policy Online at: http://hdainsurance.com
Stillwater Insurance, formerly Fidelity National Insurance Group, is an admitted carrier, authorized and licensed in all 50 States.
Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
The property coverage portion of your renters insurance policy will have a deductible, yes. Upon settlement of a covered claim, that settlement will therefore be subject to that deductible as well as the other terms and conditions of your policy. Talk to your insurance professional about your coverage and settlement options.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
There isn’t a deductible if you are sued.
When property is damaged as a result of a covered peril (fire, windstorm, etc.) the company will apply the stated deductible to the settlement of a claim. The purpose of the deductible is to reduce the number of claims by eliminating the small, inconsequential losses. In reducing the number of claims the cost of the insurance is reduced. The company usually will offer several deductibles to choose. You can tell by the premium change the effect that these smaller claims have on the cost of insurance.
A deductible is much like self-insuring. It allows you, the policyholder to assume a portion of every loss in order to reduce the cost. The higher the deductible the closer you become to catastrophic insurance. As a principle, it is wise to assume as much of the risk yourself as you can reasonably afford to reap the benefit of a lower premium.
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If you are purchasing Renters Insurance primarily to provide Personal Liability coverage required by your landlord or simply for the personal protection of your assets from a liability exposure, you will be best served by purchasing a policy with the maximum available deductible.
The lowest renters insurance policy premium will be generated by selecting the maximum deductible amount on the policy; however, the deductible only applies to the Personal Contents (physical loss). It is important to review your policy as there are variations from State to State; however, Renters Insurance is referred to as a Homeowners Form HO-4 or Renters Form.
In most geographic areas, Stillwater Insurance generates the lowest premium for this type of coverage and the policy is available online. You may obtain a Free Renters Insurance Quote and Buy your Renters Insurance Policy Online at: http://hdainsurance.com
Stillwater Insurance, formerly Fidelity National Insurance Group, is an admitted carrier, authorized and licensed in all 50 States.
When property is damaged as a result of a covered peril (fire, windstorm, etc.) the company will apply the stated deductible to the settlement of a claim. The purpose of the deductible is to reduce the number of claims by eliminating the small, inconsequential losses. In reducing the number of claims the cost of the insurance is reduced. The company usually will offer several deductibles to choose. You can tell by the premium change the effect that these smaller claims have on the cost of insurance.
A deductible is much like self-insuring. It allows you, the policyholder to assume a portion of every loss in order to reduce the cost. The higher the deductible the closer you become to catastrophic insurance. As a principle, it is wise to assume as much of the risk yourself as you can reasonably afford to reap the benefit of a lower premium.